Apple’s Growth Rate In India Has Reduced To 17%

The Indian market looks dim for Apple as the growth rate has been the slowest in the past 6 years. Apple made Rs 11,618.7 crores in revenue during the year 2016-17 compared to Rs 9,937 crores in the year 2015-16 which is only 17 per cent growth. Sources say that this could be because of the demonetisation last year.

Apple CEO Tim Cook said that the effects of demonetisation were still felt in February this year. Since the demonetisation was announced last year, the months from December to March saw the least purchase of Apple products in India.

Also considering the pricing of iPhones and Macbook in India, they have been rising each year making it difficult for Indian Fans to buy them. At the moment, iPhone X is the most expensive iPhone in India starting at Rs 89,000 for the 64GB variant and Rs 1,02,000 for the 256GB model.

Apple is very much focussed on the Indian market as of now and they want to bring in better services like Apple Pay in the near future.